The U.S.-China phase one trade agreement was signed in mid-January. North Dakota State University Extension Crops Economist Frayne Olson says this past Friday was the implementation date. “There was a lot of people in the futures market that was concerned that China hadn’t bought from the U.S. yet,” said Olson. “They were assuming that as soon as the ink was dry on January 15, they’d be buying their brains out and that essentially hasn’t happened.” In Olson’s view, China will begin buying U.S. products in the upcoming week. To get to the higher dollar amounts in the phase one trade agreement, Olson believes China will buy more value-added products like meat and wheat flour.
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